ADDIS ABABA – Ethiopia has collected a total of 3.62 billion US Dollars from export trade in the 2020/21 fiscal year, which ended in July 7.
The amount is a record high in the country’s export trade history, the ministry of Trade and Industry said on Friday.
The revenue has shown a 620 million dollars growth as compared to the amount Ethiopia obtained in the previous budget year.
Speaking to reporters, State minister of Trade and Industry Misganu Arega said the generated record-amount is 88 percent performance against the plan and has shown 95 percent increment compared to the previous year.
Ethiopia’s export continues to depend on agricultural products with coffee and flowers contributing 25 and 13 percent, respectively, to the total export value.
He also underscored the need to shift to manufacturing, which is contributing only 6.8 percent to the Gross domestic product (GDP)
Agriculture, manufacturing and mining contributed 2.47 billion, 390 million and 668 million US Dollars respectively to the total earning.
“We have to expand export in terms of diversity, type, amount, quality and price of products,” Misganu said. Ethiopia earned 3.02 billion US Dollars in the previous fiscal year.